The European Commission is taking Belgium to the Court of Justice because our country has still not fully transposed an important directive against money laundering into national law. She requests the Court to provide for financial sanctions.
Member States were supposed to implement the fourth money laundering directive by June 2017, but three years later that has still not fully happened in Belgium, the Commission states. In particular, it sees weaknesses in the mechanisms by which financial intelligence services exchange documents and information.
“We have robust European rules, but they need to be applied consistently and efficiently,” commented Vice-President Valdis Dombrovskis. “We will ensure that everyone in the private and public sectors strictly follows the rules.”
Austria and the Netherlands are also being brought before the Court for the same reason. In the Austrian case, legislation on betting and gambling is not in line with the Directive, in the Netherlands the information to be provided about beneficial owners of companies and other legal entities is a problem.